AstraZeneca PLC (NASDAQ:AZN) Position Reduced by RB Capital Management LLC

RB Capital Management LLC lowered its stake in AstraZeneca PLC (NASDAQ:AZN) by 1.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 12,268 shares of the company’s stock after selling 186 shares during the period. RB Capital Management LLC’s holdings in AstraZeneca were worth $956,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC lifted its stake in AstraZeneca by 1.1% during the third quarter. FMR LLC now owns 23,117,447 shares of the company’s stock worth $1,801,080,000 after purchasing an additional 258,477 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of AstraZeneca by 5.3% in the 3rd quarter. Fisher Asset Management LLC now owns 10,480,160 shares of the company’s stock worth $816,509,000 after buying an additional 524,175 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of AstraZeneca by 16.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,417,933 shares of the company’s stock valued at $266,565,000 after buying an additional 488,644 shares during the period. Clearbridge Investments LLC grew its position in shares of AstraZeneca by 5.8% during the 2nd quarter. Clearbridge Investments LLC now owns 3,403,748 shares of the company’s stock valued at $265,458,000 after buying an additional 186,010 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in AstraZeneca by 109.6% in the third quarter. Bank of Montreal Can now owns 3,071,333 shares of the company’s stock worth $238,397,000 after acquiring an additional 1,605,758 shares during the last quarter. Institutional investors own 20.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AZN shares. Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. TD Cowen lifted their price objective on shares of AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, UBS Group upgraded shares of AstraZeneca from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.75.

AstraZeneca Price Performance

Shares of AstraZeneca stock opened at $68.58 on Tuesday. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $87.68. The company has a current ratio of 0.93, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average price is $71.27 and its two-hundred day moving average price is $77.08. The stock has a market cap of $212.64 billion, a PE ratio of 32.81, a price-to-earnings-growth ratio of 1.22 and a beta of 0.45.

AstraZeneca (NASDAQ:AZN) last announced its earnings results on Tuesday, November 12th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. AstraZeneca had a return on equity of 30.01% and a net margin of 12.68%. The company had revenue of $13.57 billion for the quarter, compared to analyst estimates of $13.08 billion. During the same period in the previous year, the firm earned $0.87 earnings per share. AstraZeneca’s revenue for the quarter was up 18.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that AstraZeneca PLC will post 4.11 EPS for the current fiscal year.

AstraZeneca Company Profile

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company’s marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.